Business
Tristar Gold Announces Closing of $4 Million First Tranche of Private Placement
(via Thenewswire.ca) TheNewswire / July 7, 2016 - TriStar Gold Inc. (the "Company" or ...
About this update from Tristar Gold Inc.
[{"type":"text","content":"Tristar Gold Announces Closing of $4 Million First Tranche of Private Placement(via Thenewswire.ca)\n\n \nTheNewswire / July 7, 2016 - TriStar Gold Inc. (the \"Company\" or \"TriStar\") is pleased to announce that it has closed the first tranche of the private placement financing (the \"Private Placement\") announced in the Company's news release dated June 13, 2016, in which an aggregate of 13,237,839 units (\"Units\") were issued at a price of $0.30 per Unit for gross proceeds of $3,971,352. Each Unit is composed of one common share and one-half of one transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.55 until July 7, 2018, subject to acceleration in certain circumstances. \n\n\n \nA total of 6,933,610 Units were issued on a brokered private placement basis, with Beacon Securities Limited, as lead agent, and Paradigm Capital Inc. (collectively, the \"Agents\") acting as agents on a commercially reasonable \"best efforts\" basis. A further 6,304,229 Units were issued on a non-brokered basis. \n\n\n \nThe Agents or their nominees have received a cash commission totaling $71,062 and non-transferable compensation options exercisable to acquire a total of 611,872 common shares of the Company at an exercise price of $0.30 per share at any time up to July 7, 2018. \n\n\n \nThe Company intends to use the net proceeds of the Private Placement for advancing the Castelo de Sonhos project, working capital and general corporate purposes.\n\n\n \nThe securities issued pursuant to the first tranche of the Private Placement will be subject to a four month hold period under applicable Canadian securities laws, expiring on November 8, 2016. \n\n\n \nSubject to market conditions, the Company intends to complete one or more further tranches of the Private Placement.\n\n\n \nThis news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units, shares or warrants (the \"Securities\") in the United States or to, or for the account or benefit of, any U.S. person. The Securities have not been and will \n\n\n \nnot be regist...